Guggenheim Forecasts Strong Price Appreciation for Chesapeake Utilities (NYSE:CPK) Stock

Chesapeake Utilities (NYSE:CPK) had its target price raised by equities researchers at Guggenheim from $118.00 to $129.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the utilities provider’s stock. Guggenheim’s price objective would indicate a potential downside of 2.49% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. StockNews.com raised shares of Chesapeake Utilities from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Barclays upped their price objective on Chesapeake Utilities from $118.00 to $124.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Chesapeake Utilities has a consensus rating of “Hold” and a consensus target price of $123.00.

Chesapeake Utilities Stock Up 1.5 %

CPK stock traded up $1.90 during trading on Friday, reaching $132.29. The stock had a trading volume of 30,353 shares, compared to its average volume of 112,469. The company has a market capitalization of $3.01 billion, a P/E ratio of 26.83 and a beta of 0.61. Chesapeake Utilities has a 1-year low of $90.80 and a 1-year high of $133.00. The company has a current ratio of 0.38, a quick ratio of 0.32 and a debt-to-equity ratio of 0.87. The firm has a fifty day moving average price of $122.42 and a 200 day moving average price of $115.92.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CPK. Anchor Investment Management LLC boosted its holdings in shares of Chesapeake Utilities by 5.7% in the third quarter. Anchor Investment Management LLC now owns 23,473 shares of the utilities provider’s stock valued at $2,915,000 after acquiring an additional 1,270 shares in the last quarter. Geode Capital Management LLC lifted its position in Chesapeake Utilities by 1.6% in the third quarter. Geode Capital Management LLC now owns 516,586 shares of the utilities provider’s stock worth $64,157,000 after purchasing an additional 8,358 shares during the period. Barclays PLC increased its position in shares of Chesapeake Utilities by 342.4% during the 3rd quarter. Barclays PLC now owns 37,048 shares of the utilities provider’s stock valued at $4,600,000 after purchasing an additional 28,673 shares during the period. XTX Topco Ltd bought a new stake in shares of Chesapeake Utilities in the 3rd quarter worth $390,000. Finally, Jane Street Group LLC raised its stake in shares of Chesapeake Utilities by 11.6% in the 3rd quarter. Jane Street Group LLC now owns 41,032 shares of the utilities provider’s stock worth $5,095,000 after buying an additional 4,262 shares in the last quarter. 83.11% of the stock is owned by institutional investors and hedge funds.

About Chesapeake Utilities

Chesapeake Utilities Corporation operates as an energy delivery company. The company operates through two segments, Regulated Energy and Unregulated Energy. The Regulated Energy segment natural gas distribution operations in central and southern Delaware, Maryland's eastern shore, and Florida; regulated natural gas transmission in the Delmarva Peninsula, Ohio, and Florida; and regulated electric distribution in northeast and northwest Florida.